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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF) -- Ignore unavailable to you. Want to Upgrade?

To: Stuart Carmichael who wrote (262)	1/20/2000 9:11:00 AM
From: Hawkmoon	Respond to of 4541

Stuart, It appears we share the same situation. I became aware of PCCLF from an associate of mine who's broker at Merrill Lynch advised him to buy the stock at $1.85, but by the time the order filled it was $2.05. Merrill is apparently pushing this stock very hard amongst its brokers, which include regular strategy sessions on how to sell the stock to customers. Being a buy-side kinda guy, I always get nervous when I see such a concerted effort by a major broker to sell a particular stock to the public. I have advised my associate to get the hell out of "Dodge" when the stock hits close to $3 (HK$23-24) given the enormous float and shares outstanding, as well as the fact that this company has now filings, no fundamentals, and is rumoured to be under some form of investigation by the Chinese securities authorities surrounding suspected stock manipulation (which is not necessarily the fault of the company itself). If this is your friends first stock I humbly suggest that reassess his risk tolerance and position according to that. My buddy only bought 500 shares so it is play money for him, but if someone is dedicating a large percentage of their portfolio to this stock, I can't see how they can justify the risk. A better play would be to purchase the stocks that PCCW(LF) invests money in. There is VERY LITTLE LIQUIDITY in this stock for US investors. This stock can tank overseas on the HK market and there would be nothing that a US investor could do for 12 hours. Orders taken from US investors are forwared to HK at the close of the US trading day and the best price available is what they buy it at. If you want to play this, get a HK broker to handle your trading. Regards, Ron